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GDP Causes Sterling Strength (Daniel Johnson)
Sterling gained strength over most major currencies following a rise in GDP in the second quarter. GDP came in at 0.7% compared to Q1 at 0.4%. Out put is very close to the the levels seen just prior to credit crisis of 2008. The BOE meeting next week could show some change in voting patterns for a rate hike. However, it is not all good new as the strength of Sterling is hitting our Exports. The confederation of British Industry (CBI) has signaled the weakest outlook for exporters in four years. due to this it wouldn’t be wise to rise interest rates for at least six months.
I doubt we will we see any major volatility in GBP/EUR while the Greek debacle continues. If you have a currency requirement in short to medium term it would be advisable to move on a spike in your favor. I currently offer a free of charge rate alert service, don’t hesitate to drop me an e-mail or give me a call to let me know if you would like to notify you of market movements.
We do have some very large GBP/EUR trades going through this week which potentially we can tag new clients on to and achieve a very competitive rate.
Thank you for reading today’s Blog, I would greatly appreciate any feedback you have and would take pleasure in replying personally. I am more than than happy to assist you with any of your currency requirements. Feel free to e-mail me on [email protected] or call on 01494 787 478 and ask for Daniel Johnson.
Source: http://www.eurorateforecast.com/2015/07/29/gdp-causes-sterling-strength-daniel-johnson/
